A good article to share about the Phoenix Arizona foreclosure market:
Reagor: Foreclosure activity eased in April
2 commentsby Catherine Reagor - May. 3, 2011 07:20 PM
The Arizona Republic
My plan had been not to lead this column with news about foreclosures this week, instead focusing on a more positive indicator or trend in metro Phoenix's real-estate market.
But the foreclosure numbers from April quickly changed my mind. Pre-foreclosures fell to 4,200 last month, their lowest level since December 2007, according to real-estate-research firm Information Market.
In Arizona, pre-foreclosures are notice-of-trustee-sale filings that signal that a lender has started the legal process of taking a home back from a borrower.
In April, foreclosures dropped to 4,500, which is 500 fewer than in March. Foreclosures are legally known as trustee sales.
And the number of active residential notices, or pending foreclosures in metro Phoenix, dropped to 30,790. A year ago, this key market indicator was 30 percent higher.
A few more months of drops in foreclosure activity like April's, and it finally could be safe to say the region's housing market is starting to recover
Read more: http://www.azcentral.com/business/articles/2011/05/03/20110503foreclosure-activity-catherine-reagor.html#ixzz1LPDgQzYK
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